NZ dollar pares gains as investors await news of central bank support

Mon, 30 Jul 2012

By Paul McBeth July 30 (BusinessDesk) - The New Zealand dollar pared gains in local trading as investors awaited central bank action this week, when the Federal Reserve and European Central Bank are scheduled to review their respective monetary policies. The kiwi fell to 80.75 US cents at 5pm from a three-month high 81.05 cents at 8am, from 80.88 cents on Friday in New York. The trade-weighted index was little changed at 72.80 from 72.91 last week. Traders are banking on the ECB taking firmer action to shore up the region's single currency...

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